Online gaming firm PhilWeb Corp. will invest up to P100 million in a subsidiary, PhilWeb Gaming Solutions Corp., that will manufacture gaming terminals for its local network of 262 e-Games cafes, its various international businesses and to compete in the booming market for these devices worldwide. The gaming terminals will enable PhilWeb to offer a device that tightly integrates all its gaming software, while improving security and functionality in the gaming experience.
The president of PhilWeb Gaming Solutions is Joe Pisano, who has been in the gaming industry for several decades and was recently named one of the top 50 most influential persons in the gaming industry by Inside Asian Gaming magazine. Pisano is also president of Jade Entertainment and Gaming Inc., a regional distributor for the world’s leading manufacturers of equipment used in the gaming industry such as IGT, Novomatic, FutureLogic, Crane and others.
PhilWeb president Dennis Valdes said “we are prepared to put in up to P100 million into this business over the next few years. Joe Pisano has been a friend for many years and his regional experience will prove invaluable as we grow in Asia Pacific. I’m very bullish on our new venture, as this device will significantly improve the gaming experience for our over 40,000 customers per day, who play on our e-Games network of close to 6,000 terminals. The devices will also be greatly appreciated in Guam, Timor Leste, Cambodia, Laos and other countries where we have extended our business activities. And, of course, the market for these devices goes beyond just PhilWeb’s own businesses but into the realm of consumers worldwide. We can make these devices cheaper and better in the Philippines.”
Pisano said, “I am pleased to start a new venture with PhilWeb, as their spectacular growth over the past years has shown that they are the right partner in Asia Pacific. These devices will be an excellent new business for the entire company in the coming years.”
PhilWeb recently disclosed that its net income for the first half of 2012 surged to P480 million, an increase of 30 percent vs the same period in 2011.